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I believe the answer could be yes. More people who can make a decent living when they're not cut out for college is fine, plus trade schools can cost less than college. It'd certainly do a lot to relieve some of the disenfranchisement some of these kids are feeling. Who knows, maybe it'd be enough reason to bring quality manufacturing back into the US.
Would it be better for many (not all) 18 y/o's to shoot for learning a trade?
I wonder why your people didn't mention some of the things that a degree and more than one degree are required to get the job. All kinds of physicians must get degrees to get licenses to practice. If one wants to go into law he has to have two degrees. I think there are more, many more, things like this that require at least a bachelor's degree.
Now let me tell you that both my wife and I have, in her case only one degree, but I have two of them. Neither of us could have been employed as teachers without one degree. Both of my sons refused to go to college. The oldest one has a two year degree from a juco but had to go those two years in order to get his job as a tractor technician. The youngest one didn't even go that far. Of course, the youngest one doesn't make as much money working as a parts man but he is getting along pretty good.
The biggest problem with our system is that too many people want every kid to go to college and too many of them just don't have the ability to do that.
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I was at my sister's high school graduation this summer,and as they were seated, they were asked; ''Those of you planning on attending college next year, please stand up.'' and literally 95% of the graduates stood up. I thought to myself ''My god you fools, you can't all make it this way. Whose gonna plumb, paint, roof, and take out my trash.'' Trades to this day are kinda still vital in some cases.
Yes a degree is worth it. But what degree? Engineering, Accounting, Nursing, Education are lucrative degrees with a definite return on investment at just the bachelor's level.
Other degrees, especially liberal arts- not so much.
Skilled trades? If you go after it at an early age and get into carpentry, plumbing, mechanic- you can have a solid career and build up your own personal brand or business. But you need a plan.
Altucher is quite the eccentric. He also claims that one should never own a home and that insider trading should be legal. So I'm not sure how much credibility he will garner. Not to say that there is anything wrong with making a living in a trade...but does he seriously think he would be where he is if he had just gone into plumbing?
Those with a Bachelors or higher have an unemployment rate now of 4.3%. This is very low!! We should do more to make higher education inexpensive, but lets not discredit a 4 year degree.
Would it be better for many (not all) 18 y/o's to shoot for learning a trade?
The tuition at my school, University of Maryland, is about $8,000 a year. That's if you commute.
We are a top 20 business school and engineering school and the number 1 criminology school in the country. We're also pretty good at science and math.
If you attend a community college and then transfer into UMD that's even cheaper. If you do something like accounting or engineering or math and get GOOD GRADES then you are pretty much guaranteed a good job right out of college. Think making 50K+ as an accountant or 60K+ as an engineer, or over 40K (and job security) as an NSA analyst. And this isn't just at Maryland, this is at a lot of state universities throughout the country. Hell, places like Michigan are up there with the Ivies in terms of academics.
If I was paying my own way through college (I'm incredibly lucky and thankful to have parents who were able to save for it) I would definitely pick a cheap but great school and a program that has good job prospects. Heck, I'm not paying my way and I still did that.
There's no reason to take on boatloads of debt. The ivy league schools are pretty generous with their financial aid, particularly if your family makes less than $60K a year (free tuition). There are many state universities that are well-regarded and cheap. Going to community college for the first two years lowers the cost as well.
Then there is also the option, for those who are willing, to join the military and get the GI Bill.
So yes, if you're not paying out the ass and if you're getting a degree with good job prospects, it is certainly worth the cost.
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